Highland Longshort Healthcare Fund Market Value
| HHCCX Fund | USD 14.27 0.03 0.21% |
| Symbol | Highland |
Highland Long/short 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Highland Long/short's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Highland Long/short.
| 12/04/2022 |
| 11/23/2024 |
If you would invest 0.00 in Highland Long/short on December 4, 2022 and sell it all today you would earn a total of 0.00 from holding Highland Longshort Healthcare or generate 0.0% return on investment in Highland Long/short over 720 days. Highland Long/short is related to or competes with Ms Global, Gmo Emerging, Barings Active, California Bond, Ultra-short Term, Rbc Bluebay, and Maryland Tax-free. The fund seeks to primarily invest in equity, debt, andor derivative securities of companies that the Adviser expects to... More
Highland Long/short Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Highland Long/short's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Highland Longshort Healthcare upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.2306 | |||
| Information Ratio | (0.48) | |||
| Maximum Drawdown | 1.12 | |||
| Value At Risk | (0.29) | |||
| Potential Upside | 0.3551 |
Highland Long/short Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Highland Long/short's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Highland Long/short's standard deviation. In reality, there are many statistical measures that can use Highland Long/short historical prices to predict the future Highland Long/short's volatility.| Risk Adjusted Performance | 0.0833 | |||
| Jensen Alpha | (0) | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.44) | |||
| Treynor Ratio | 0.1137 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Highland Long/short's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Highland Long/short Backtested Returns
At this stage we consider Highland Mutual Fund to be very steady. Highland Long/short holds Efficiency (Sharpe) Ratio of 0.14, which attests that the entity had a 0.14% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Highland Long/short, which you can use to evaluate the volatility of the entity. Please check out Highland Long/short's Downside Deviation of 0.2306, risk adjusted performance of 0.0833, and Market Risk Adjusted Performance of 0.1237 to validate if the risk estimate we provide is consistent with the expected return of 0.0301%. The fund retains a Market Volatility (i.e., Beta) of 0.18, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Highland Long/short's returns are expected to increase less than the market. However, during the bear market, the loss of holding Highland Long/short is expected to be smaller as well.
Auto-correlation | 0.63 |
Good predictability
Highland Longshort Healthcare has good predictability. Overlapping area represents the amount of predictability between Highland Long/short time series from 4th of December 2022 to 29th of November 2023 and 29th of November 2023 to 23rd of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Highland Long/short price movement. The serial correlation of 0.63 indicates that roughly 63.0% of current Highland Long/short price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.63 | |
| Spearman Rank Test | 0.65 | |
| Residual Average | 0.0 | |
| Price Variance | 0.08 |
Highland Long/short lagged returns against current returns
Autocorrelation, which is Highland Long/short mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Highland Long/short's mutual fund expected returns. We can calculate the autocorrelation of Highland Long/short returns to help us make a trade decision. For example, suppose you find that Highland Long/short has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Highland Long/short regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Highland Long/short mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Highland Long/short mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Highland Long/short mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Highland Long/short Lagged Returns
When evaluating Highland Long/short's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Highland Long/short mutual fund have on its future price. Highland Long/short autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Highland Long/short autocorrelation shows the relationship between Highland Long/short mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Highland Longshort Healthcare.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Highland Mutual Fund
Highland Long/short financial ratios help investors to determine whether Highland Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Highland with respect to the benefits of owning Highland Long/short security.
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